Lithuanian businesses have experience in diversifying after Russia’s trade restrictions

The analysis compared results of companies trading with Russia in the first half of 2013 and 2014.

“We noticed that, as exports to third countries and Russia decreased, those companies still managed to compensate by selling goods in Lithuania and exporting to other EU countries. Our data confirms that businesses successfully diversified their sales, and a conclusion can be made that this had no major effects on taxes paid during the period in question,” said Deputy Head of the VMI, Artūras Klerauskas.

Representative of the VMI did not exclude the possibility that the current situation “may be somewhat different”, but did not wish to speculate.

“Of course, we will closely monitor activities of enterprises, and decisions will be made then,” said Klerauskas.

Regarding concerns over African swine fever, Prime Minister Algirdas Butkevičius said that veterinary and customs control has been strengthened so that food products were not transported from localities were the disease was found.

The situation regarding dairy and meat product realisation and cargo flows to third countries are also being monitored.

The prime minister said that, based on the data of the Customs Department, cargo transport flows to third countries have slightly increased after Russia imposed an embargo.